News Formal

Finance department seeks immediate passage of CREATE bill

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

With just a few session days left in the legislative calendar, the Department of Finance seeks swift passage of the Corporate Recovery and Tax Incentives for Enterprises Act, otherwise known as the CREATE Act

— .

"A drop from 30 percent to 25 percent is actually a ₱42 billion reduction in our revenues in the second half of 2020 alone, ₱625 billion for the succeeding five years," Lambino said in an interview."This is really the first time the Department of Finance of the Philippines has proposed to the Philippine Congress a revenue-eroding tax reform measure. But we need it, and this is something that will really help our businesses.

Lambino added that government may offer 'superior incentives' to investors setting up in less developed areas of the country, to make sure jobs"go to the areas in the country where they are needed most."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance dept lauds top 500 taxpayers in the Philippines for 2019maynilad ilang besis kayong dapay i twit? Ang bill ng tyahin ko umabot ng 17k ang bayaran ng walang basihan, nag cause kayo ng panic dun sa tao. I review nyo at ayusin nyo bill nyo. Na i pm na din kayo ayaw nyong mag respond. Ave. 200php lang binabayaran nung tao. gmanews Is POGO on top 10?
Source: ANCALERTS - 🏆 26. / 50 Read more »